1981: Chariots of Fire – Hudson

I’m told that we all like lists, I’m not totally convinced, I suspect that sometimes research can be confused by popularity. Anyway, as it is Olympic season, I wondered if there is anything that investors can learn from the Games.

#1.Planning Is Everything
London 2012 was at least 7 years in the making, but given the preparations for the bid, which was originally won in June 2005, London 2012 did not simply “happen”. Successful investing involves planning for a Specific, Measurable, Achievable, Realistic, Timed (SMART) goal.
#2.Sensible Budgeting
We have all read about the legacy of a badly planned Olympic Games. The event itself becomes bigger than the point behind it. As it is the summer and as a father of two daughters, I am aware that is also the wedding season. The cost of a wedding can be many thousands of pounds. I don’t begrudge the celebration, (I love them) but one has to question the wisdom of spending vast sums of money on the first day of marriage but then failing to invest successfully into it from the second day onwards. All great financial planning makes provision for one off events, but should be based on a long-term perspective and built upon your personal values.
World records may be smashed in London, the fastest man or woman over 100 metres (which starts on 4th August) is not the same as the one that wins the marathon. Financial planning is more like the marathon (5th and 12th August) than the 100metres. It is about staying the course, endurance, pace and gradually working towards the finish line. Great financial planning has nothing to do with trying to time when you play the game, but is all about how you play the game.
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